Binance Coin BNB price has seen a decline of over thirty-percent since mid-November. It has recorded several lows over the past week, especially with technical indicators pointing in the negative direction.
Binance Coin BNB Price Analysis – 24th November (BNB/USD)
Binance Coin BNB Price Chart by Trading View
As showcased by the graph above, Binance took its route downwards. It opened at the price of $16.3 on the 24th of November following some improvement on the 23rd. However, this took a turn as the price travelled downwards instead of moving further upwards.
The coin reached its highest value of $16.48 at around 06:48 GMT after which the price trailed a path pointed downwards. It fell to its lowest price of $15.06 at approximately 16:01 GMT. Following the drop, it finally closed at a value of $15.49.
Technical Indicators
Binance Coin BNB Price Chart by Trading View
The Binance Coin is expected to observe resistance on the overhead values of $16.89 and $17.3 only in case it is able to clear the barrier at $16.09. On the other hand, support for the Binance Coin is levelled at $14.35, $14.30, and $13.67.
Showcased by the full-featured chart provided above, the 20-Day Exponential Moving Average was trailed by the price movement. The price hovered close to these values. However, the price fell below the 50-Day Simple Moving Average. They closed at $15.56 and $15.52, respectively.
The Relative Strength Index (RSI) closed at 42.57, which tilts towards the bearish angle as opposed to a bullish one.
Featured Image Background by Joshua Fuller
